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Novated Lease |
|
Central NSW
Australia
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it Website: Novated Lease Contact Person: Novated Lease Phone: (02) 43582088/(0412) 947 423 In the mid 90’s their were around 3,500 vehicles operating under a Novated Lease, in 2005 there are around 30,000 vehicles under a Novated Lease arrangement. If in the event the employee ceases employment with the company then the responsibility of the payments on the lease revert back to the employee. A Major benefit of a Novated Lease is that the total cost of the vehicle is allocated against the employees salary package, with costs deducted (in most instances) from their gross salary. Details: A Novated Lease works as follows, a credit application is to be assessed under the employees name and once approved the lease is a signed agreement between the Lessor(Finance Company) and Lessee(employee) a Novation agreement is then written up and signed between the employer and the Lessor. Whilst a lease is operating under a Novation Agreement the payments are made by the employer and the employee enjoys full use of the vehicle. The employee can select the vehicle of their choice and have both the lease and vehicle running costs paid by the employer from their gross salary, resulting in a potentially higher disposable income. A Novated lease can include vehicle running costs for the term of the lease. Vehicle Running costs Include: Maintenance, Tyres, Fuel, Vehicle registration and CTP Insurance. Comprehensive Motor Vehicle Insurance may also be included. Under a Finance Novated Lease, the full amount of the vehicle purchase price must be financed. Deposits or trade-ins cannot be used to reduce this amount. |
| Keywords: finance,financial solution,australian financial services,accounting,taxation australia,leasing,insurance,mortgage broker,finance broker australia,central new south wales,financial planner |
| META Description: Financial Broker,Service and Solution provider in Australia |
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